JAKARTA – PT Indo Boga Sukses Tbk (IBOS) will establish several new restaurants and lounges from the second half of 2022 until 2023, which will be located in Ngaklik and Condongcatur, Sleman, Yogyakarta. The funds for the plan will be sourced out of the proceeds of its shares issuance, taking place from yesterday until Thursday (19-21/4).
In the prospectus quoted Wednesday (20/4), the company stated that it would introduce a new restaurant in Condongcatur, Depok, Sleman, initiating the construction in October 2023 and the commercial operation in July 2024. In addition to that, PT Sofia Berkah Abadi (SBA), another subsidiary of IBOS, will build a lounge and meeting room in Sofia Hotel, Ngaklik, which is projected to run in July 2023. It will also launch a restaurant in Wedomartani, Sleman, Yogyakarta, targeting to be officially operated in October 2023.
From issuing 1,607,360,000 shares in a rights issue for IDR 100 each, IBOS estimates IDR 160.73 billion in return. Then, 29.23% of the proceeds will go to the capital expenditure, another 37.66% will be channelled as investment to PT Indo Nations Harvest (INH), 16.12% for investment in PT Kairos Sukses Indonesia (KSI), and the remaining 16.99% will be directed to SBA, also as a capital investment.
On top of the restaurant establishment plan, the rights issue proceeds will also be utilised to renovate existing outlets in several locations and cover the operational expenses of the company and its subsidiary. For instance, there is the renovation of Executive Lounge in D’Monaco Restaurant, as well as another renovation and a new outlet establishment in East Java. (LK/ZH)